Ichimoku Analysis (Weekly Chart)
Tenken-Sen- 137.80
Kijun-Sen- 137.33
GBPJPY is trading higher for a second consecutive week and holding above 140 levels. The pair rose more than 14% from the March low of 123.99 on a surging Brexit deal. GBPUSD rose sharply after the EU and UK signed a Brexit deal. Markets eye UK new muted coronavirus spread for further direction. Short term trend is bullish as long as support 136.75 trend of GBPJPY is bullish as long as support 139.40 holds.
Technical:
The pair's significant resistance at 142.70, any indicative breaks above targets 145/148/150. Minor bullishness can happen only if it breaks 156.60. On the lower side, near term support is around 139.40, and any violation below targets 139/138.25/137.95/137.19/136.75.
It is good to buy on dips around 138.50 with SL around 136.75 for the TP of 142.70/145.
